Entrepreneurship

HIRDA is working towards this end by devising innovative ways to use the resources of the diaspora, particularly with regard to establishing profitable business models that contribute to social development. HIRDA recognizes that, as a migrant organisation, it has the experience, knowledge and requisite network among the Somali diaspora and will seize the opportunity to rally them in the development of their home country.

HIRDA Foundation entered a strategic partnership with BiD Network, an NGO for small and medium enterprises (SME) development in emerging markets. Three members of HIRDA staff in Hargeisa, Somaliland, have undergone a Ready 4Finance Training program and are ready now to provide local entrepreneurs with help on writing business plans, pitching their plans, making realistic budgets and finding investors.

The object of HIRDA’s partnership with BiD Network is to generate 100 business plans for Somalian start-ups and 25 business plans for existing businesses in the period from October 2014 to July 2015. HIRDA also aims to contribute six diaspora co-financed businesses, since one of the project goals is to involve diaspora into financing SME.

Since 2005 HIRDA has been implementing SME projects, such as the Water project (link) and the empowering women project. BiD Network in collaboration with other NGOs is carrying out the AgriFood Project (link) in South Central Somalia, Somaliland, and Puntland. The project aims to connect local farmers and SME in food and agricultural sect